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Citicard / Fraud and cheating!

1 United States Review updated:

1. Notice that even if you EFT payments on the day they're due, Citicard won't post it until after the due date, then charge you, not one, but TWO month's finance charges.

2. If you use a lower-rate check (or other transfer deal), with no payments until a certain date... then make a payment on your credit card balance, they apply your payment to the lower-rate balance first and charge you a finance charge on the charges you were trying to pay off.

Yes, off course all this is in the fine-print. Nice! Not the kind of company I'd recommend doing business with.

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  • Li
      24th of Jan, 2008
    0 Votes

    Citigroup is already in the hot water with the New York State Attorney General and Banking Department. I wonder how much longer they are going to keep ripping off and destroying peoples credit. As credit card holders we should have more protection from the government from these credit card companies scams. I have credit ranging in the 700's and am worried that they will temper with my scores. I have a open account with Citicard, I sent a MoneyGram Money Order in the amount of $300, well they never received it or so they say. So i have a late charge that I paid. I have called more then a dozen times. Finally had someone that told me they actually cashed it. Previous to this call I verified with MoneyGram the date that this was cashed. To my surprise, the representative verified the date that I had. She told me to fax them a copy of the stub to my money order. Then I called again and all of a sudden no one knows what this other rep was talking about.??? Wow, they are quik to take your payment over the phone or internet but play dumb with customer service!

  • Bo
      5th of Aug, 2008
    0 Votes

    First off, by EFT are you referring to payments on or Pay-by-Phone - if so, if it's after 5pm EST theses payments will post for the next bank business day.

    If you're referring to your bank electronically paying Citi (ie. Billpay Service) this is NOT instant.. It can take 3-5 days to post the other creditor (not just Citi).

    2nd) in regards to the finance charges, they're called "residual finance charges" Once the payment is LATE or not received in FULL by the due date, it activates a "daily financing" on the account, so finance charges will build up on the account util the balance is paid in full by a duedate, thus far - resulting in 2 month's worth of finance charges, and yes, it includes those new transactions you made.. read your agreement - and no, it's not just Citi.

    3rd) Citi advises you in the card agreement, the terms & conditions of the offer, and if you do it by phone, they TELL you "your payments and credits will be allocated to pay off lower rate balances before higher rate balances"

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